Mastercard invests in long-term fintech partner Verestro

▤ Summary

Mastercard has invested an undisclosed amount in Polish fintech Verestro, formerly called uPaid. The majority of the Polish fintech’s revenues come from foreign markets across Central and Eastern Europe (CEE), the Balkans, Middle East, US and Southeast Asia. This prequels its plans for an initial public offering (IPO) in a foreign market “within a year”. Verestro’s CEO, Krzysztof Drzyzga, says the fintech “owe[s] a lot to Mastercard”, including its first business project. As well as its investment, Mastercard will give Verestro access to its global financial and retail partner network.

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